LUNA, the native token of the Terra 2.0 blockchain, was among the many gainers in the past week positively affected by Bitcoin’s impressive rally toward the $35,000 mark. According to data from CoinMarketCap, LUNA is up by 13.96% in the last seven days, providing some relief for investors who have had to endure the token’s…
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Slack conversations between Terraform Labs co-founders, Do Kwon and Daniel Shin, have exposed their contemplation of orchestrating fraudulent transactions on the Terra blockchain. Terraform Labs co-founder Do Kwon has contested the importance of Slack messages presented as evidence. These involved discussions with his co-founder Daniel Shin about manipulating transactions to attract investors. The United States…
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Following a decisive vote by the Terra Classic community, an initiative to halt the creation of the previously termed stablecoin, terra usd (commonly referred to as UST or USTC), has been approved. Despite 40.56% opposition, 59.42% of the vote gave the nod for the software update. Minting Freeze for USTC Approved USTC, which sits at…
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Worldcoin (WLD) has recently emerged as a subject of fervent discussion especially due to its biometric data collection through retina scans. Its launch came in amid the growing interest in decentralized finance (DeFi) and blockchain technology as well as new tokens and projects constantly striving to stand out and make a significant impact. Among the…
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Terraform Labs recently appointed CEO, Chris Amani, held a Twitter Spaces with the purpose of separating the operations of Terraform Labs from Do Kwon’s personal affairs. Terraform Labs faces a “big hill to climb” as the progress of its various projects in development are constantly being impeded by frequent accusations against Do Kwon, according to…
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Bank of Italy is calling for closer regulator scrutiny of stablecoins, which they say “have not proved stable at all.” Italy’s top banking authority has called for a “robust, risk-based” regulatory framework for stablecoins, which could help prevent a worst case scenario — a “run” on stablecoins. The central bank’s recently released “Markets, Infrastructures and Payment…
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Do Kwon, the founder of failed blockchain project Terra, could stay in custody for up to six months while Montenegro’s courts consider an extradition request from South Korea. On Thursday, a Montenegro court extended Kwon’s stay in custody for an additional six months as he awaits trial for possible extradition, according to a report by Radio…
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The lawsuit, initially filed on May 9, alleges the firm and its CEO was involved in a price manipulation scheme tied to the TerraUSD stablecoin. Algorithmic and high-frequency trading firm Jump Trading is seeking to have the class action lawsuit against the firm moved from Illinois to a Northern district court in California, arguing that…
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Founder of Terraform Labs, Do Kwon, has withdrawn millions of dollars in crypto from an entity linked to his failed blockchain firm, investigators claim. South Korean authorities are now trying to locate the digital assets that have been allegedly transferred since his arrest in Montenegro in March. Prosecutors Try to Trace Tokens for Millions of…
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Prosecutors in Montenegro appealed against the bail terms of Terra/LUNA co-founder Do Kwon and chief financial officer Han Chang-Joon. On Wednesday, the State Prosecutor’s Office in the country’s capital, Podgorica, filed an official appeal against the decision made by the court on May 12 to grant Kwon and Han a release from detention on bail…
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